When Jason Nieves left his job as an electrical contractor in 2010 to build his own business, his former employer bet he’d be back. But, Nieves was determined to prove him wrong. He leveraged his 15 years of experience to start J.R. Electrical, a company specializing in electrical work for residential and commercial buildings. Nieves won high-profile jobs and weathered the recession better than the competition. His former company shuttered, leaving longtime colleagues and friends out of work.
Nieves is personally and professionally connected to Bank of America. Personally, he has credit cards, a mortgage and a retirement plan with the bank. Professionally, he has business credit cards and deposits, as well as a recently acquired truck loan and line of credit. The latter is enabling the continued growth of J.R. Electrical; the company is expanding its services and extending its reach in Greater Atlanta.
In three years, J.R. Electrical has increased its annual revenue from $45,000 to $1.5 million. This tremendous success, combined with financing from Bank of America, enabled Nieves to hire several of his former colleagues, some of whom have twice as much experience as him. They now account for half of his tight-knit, 15-person team.